The biggest mistake you can make

Carolyn Herfurth | Business Coach for Women Business Owners

Open up any profile in Entrepreneur magazine and you’ll read about the failures each founder experienced on her way to flying high.

Despite knowing this… why do we go out of our way to avoid failure… rather than doing something that “might” end up as a mistake?

During a walking tour on our recent visit to London, our guide told us the story of how a guy name Jonathan Tyers became the richest man in London.

When Tyers bought the Vauxhall Pleasure Garden in 1729, it was an X-rated version of Disney World.

There was too much debauchery going on there for Tyers’ values. So he started presenting plays that taught morality lessons.

But his clientele revolted. They weren’t interested in being preached to. Save that for Sunday morning.

They wanted dark corners for illicit sex and freedom to pursue other shenanigans.

Tyers could have held on tight and forced the play(s).

But he embraced the spirit of “there’s no failure, only feedback” and changed up his business model.

This time it worked.

He started by targeting the very rich and charged an entrance fee to keep out the scum and prostitutes.

Some “celebrities” were granted free entry, banking on the fact they’d attract paying friends and fans. (And I thought Vegas nightclubs invented this!)

His “free offer” was 10 minute performances of Handel (an up and coming artist who performed at the park)  blaring from a boat that floated up and down the Thames… enticing people to enter the garden for the full concert.

And not only did Tyers pioneer the pleasure garden concept, he became a consultant for other “pleasure gardens” around the world.

In a city that masterminded today’s financial trading system and spawned many verrrrry wealthy people, this entertainment park owner surpassed all of the others to become the richest man in the country.

When I collaborate with business owners, the most successful are the women who find the balance between creating strategy, taking quick action on it — and then tweaking based on real time feedback from the experience (aka experiment.)

In effect, this minimizes failure because this approach to introducing something new allows plenty of room for quick pivots until we get it “right”… leads to something else… or we drop it.

My friend Angela has mastered this.

She owns Savor Lifestyle Brands and quickly jumps into experiments to get a feel for whether or not it’s working.

When it does, she continues.

When it doesn’t work, she tweaks to make it better. Or simply moves on.

She’s done this with beauty products (in fact, here’s a real-time example of a setback she’s dealing with.)  Opening spas. Starting women’s mastermind groups. Creating training programs, book proposals, certifications, social media, pop up shops, entrepreneur events, retreats, daily planners. And hundreds of other things.

When something doesn’t work, I never hear her complain about it. She adapts — or moves on.

I have no doubt this quality is one of her secrets behind building more than one 7-figure business.

Because, like Tyers, she knows that there’s no such thing as failure, only feedback…

… and that the biggest mistake you can make, is making no mistakes at all.

What happens when your center of gravity is off kilter?

I’ve been giving serious thought about how I can help women tap into the possibilities that our current circumstances can create. Especially if you’re asking yourself the question, “How can I make a positive impact while others are guarding their stockpile of Charmin?” 

So​​ I’m putting together a special opportunity to capitalize on your assets, brilliance and heart. Come back here in the coming days to find ways to be a part of the solution. ❤️

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Posted In: Business Model Design, Mindset & Priorities